Mortgage delinquencies continue their decline
The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 7.40 percent of all loans outstanding as of the end of the first quarter of 2012, a decrease of 18 basis points from the fourth quarter of 2011, and a decrease of 92 basis points from one year ago, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey. The non-seasonally adjusted delinquency rate decreased 121 basis points to 6.94 percent this quarter from 8.15 percent last quarter.
The percentage of loans on which foreclosure actions were started during the fourth quarter was 0.96 percent, down three basis points from last quarter and down 12 basis points from one year ago. The delinquency rate includes loans that are at least one payment past due but does not include loans in the process of foreclosure. The percentage of loans in the foreclosure process at the end of the first quarter was 4.39 percent, up one basis point from the first quarter and 13 basis points lower than one year ago. The serious delinquency rate, the percentage of loans that are 90 days or more past due or in the process of foreclosure, was 7.44 percent, a decrease of 29 basis points from last quarter, and a decrease of 66 basis points from the first quarter of last year.
The combined percentage of loans in foreclosure or at least one payment past due was 11.33 percent on a non-seasonally adjusted basis, a 120 basis point decrease from last quarter and was 98 basis points lower than a year ago. This was the lowest that this measure has been since 2008.
Blog Archive2018-11-13 08:33:28
Economists weigh in on the real estate market
Why waiting to buy can hurt your retirement
The number one reason for mortgage declines
The holidays may decide the fate of the housing market
What will affect home values?
Housing tipping to buyer's market
Why Prop 5 restores fairness to tax system
Is a 'Generational Housing Bubble' Taking Shape?
How high will home prices go?
Are Homes More Affordable Than We Thought?
What home sellers can expect in 2018
Most say tax law will change their plans to buy a home
SD home prices rising at third-highest rate in nation
5 Changes Under the New Tax Law
No Housing Bubble...Yet
San Diego home price increases outpace nation
Homebuyers rush to riskier mortgages
Why It's a Better Time for Buyers on a Budget to Purchase a Home
My newfound purpose
Is it time to sell, San Diego?
The American Dream
Why are renters staying put?
Homeowner Value Estimates vs. Appraisals
San Diego 8th Hottest Real Estate Market
8 Questions to Ask When Deciding to Rent or Buy
Click here to see ALL articles.